Top exporters see significant boost in iron ore export volumes

By Carolina Curiel (ScrapMonster Author)

June 02, 2016 02:46:45 AM

SAO PAULO (Scrap Monster): The iron ore export volumes by top exporting nations have reported significant jump during the current year. The exports of iron ore by Brazil reported year-on-year increase of nearly 6% during the initial four-month period of the year. Meantime, the exports of the steelmaking raw material by Australia have increased by nearly 10% during the month of March this year.

Brazil’s cumulative exports during Jan-Apr ‘16

The most recent data released by the Brazil Ministry of Development, Industry and Trade of the foreign trade Secretariat (SECEX) indicates that the country’s iron ore exports increased by 5.7% over the previous year to 1.43 billion tons during January to April this year. The average export prices have dropped sharply by nearly 42% year-on-year to US$26.9 per ton FOB.

The largest importer of Brazilian ore during the four-month period was China. The country imported 61.121 million tons from Brazil at an average price of US$25.5 per ton. The second largest export destination was Malaysia with 10.097 million tons. The export prices to Malaysia averaged at US$23.3 per ton. Japan imported 9.6 7 million tons of iron ore from Brazil during the initial four months of the year. The exports to Japan averaged at US$29.4 per ton.

Quarterly exports surge

Brazil’s iron ore exports during January to March this year totaled 85.302 million tons, up by 7.5% when compared with the same period last year. The country’s iron ore exports had totaled 79.345 million tons during Jan-Mar ’15. The iron ore export price averaged at $24.80 FOB per ton, substantially lower by 49% when compared with a year before. The value of iron ore exports out of the country totaled $2.118 billion during the quarter.

The largest destination of iron ore exports from Brazil was China. The exports to China during the initial three-month period of the year totaled 45.82 million tons, accounting for nearly 54% of the total exports by Brazil during the month. The second largest destination of Brazil’s iron ore exports was Malaysia. The exports to Malaysia totaled 7.879 million tons, accounting for 9.2% of the country’s total exports. The other key importers of Brazilian iron ore were Japan (7.203 million tons), Netherlands (5.431 million tons) and Korea (2.415 million tons).

Brazil’s iron ore exports during Jan ’16 totaled 25.037 million tons, up by 7.4% when compared with the same month previous year. Brazil’s iron ore exports during Feb ’16 totaled 27.447 million tons, up by 29% when compared with the previous month. Meantime, the country’s iron ore exports during the month of March alone amounted to $776 million, substantially lower by over 44% when compared with the exports during March 2015.

Australian exports rise

As per data released by the Australian Bureau of Statistics, the country’s iron ore exports totaled 37.489 million tons during March this year, rising significantly by 9.7% over the previous year. The average export prices have declined by nearly 9% year-on-year to US$46.8 per ton FOB.

Quarterly exports

The quarterly iron ore exports by Australia totaled 1.879 billion tons during Q1 2016 at an average price of US$41.3 per ton. The key importer of Australian iron ore was China. The exports to the country totaled 1.53 billion tons at an average price of US$40.7 per ton. In second place was Japan with 18.184 million tons at an average price of US$45.2 per ton. The other export destinations of Australian iron ore were Korea (11.548 million tons) and Taiwan (4.166 million tons).